Roanwell acquires Absolute Manufacturing
Absolute Manufacturing has been bought by Roanwell.
Roanwell may have needed negotiation techniques to assist in its acquisition of Absolute Manufacturing.
All of the former entity's employees will be retained, its existing facility is to be leased and business will still be conducted under the Absolute Manufacturing name.
The firms are confident the tie-up will help them to become a "major force in the rapidly expanding global market for high precision parts", founder and president of Absolute Manufacturing David Gosselin said.
He argued Roanwell's presence in the aerospace and military sectors and its available resources will provide both enterprises with the opportunity to increase the speed of their growth.
Roanwell president Jonathan LaBarre stated the acquisition will enable his company to carry out its strategy of "expanding into engineered close tolerance precision part manufacturing", as well as the power and medical industries.
It should also enable the company to strengthen its operations in the "already established aerospace and military markets", he added.
Roanwell has made other acquisitions in the past, including the purchase of a number of handset operations and lines from Star Dynamic Corporation.
Posted by Ken Hayes
Source: Roanwell press release, May 9th